Thursday, June 29 2006 10:43 Hrs (IST) - World Time -

London: India and UK have signed a Joint Statement of Intent to create and implement an Intellectual Property Rights Programme between the two countries.

The statement was signed by Commerce and Industry Minister Kamal Nath on behalf of India and UK Science Minister Lord Sainsbury during the India UK Business Leaders Forum Meeting here, a release said.

Delivering keynote at the meeting Nath said both India and UK have become partners of choice in science, technology and innovation because both recognise their importance in prosperity and quality of life.

The Intellectual Property Rights is one of the key areas identified by UK-India Joint Economic and Trade Committee as providing potential for increased trade and investment in future.

Both the countries have also set up a new Indo-UK Science and Technology Innovation Council to promote collaboration in innovation, Science and Technology Minister Kapil Sibal said.

He said hat focus of the council would be on strategic areas of next generation communication technologies, bio technology and stem cell research and advanced materials and nanoechnology.

"The council will also work on key initiatives including new energy and weather systems, and climate change, thus looking at public good and developing and delivering new products to the market," Sibal added.

He said three leading scientists each from India and UK would work on a road map to further Indo-UK partnership through these strategic and bilateral initiatives.

Sibal announced that best of Indian and UK scientists and institutions will collaborate with a funding of eight million pounds which could go up to 12 million pounds with a matching grant from India.